- Bangladesh into Super Eights with win over Nepal
- Nuclear arms spending soars as global tensions swell: studies
- Sri Lanka deliver big win over Dutch as they bow out of T20 World Cup
- 'Outsiders,' 'Stereophonic' top Tony Awards
- Weghorst reprises super sub role to offer Dutch plan B at Euros
- Portugal's record collector Ronaldo 'thinking big' at Euro 2024
- Philippine, Chinese ships collide near hotspot reef: Beijing
- Asian stocks struggle after tepid Wall St lead, euro dips further
- Once fruitful, Libyan village suffers climate crisis
- 'Meaty rice'? South Korean professor aims to change global protein
- Sri Lanka make 201-6 against Netherlands in T20 World Cup
- 'Shot of my life' helps lift DeChambeau to second US Open title
- Philippine ship, Chinese vessel collide in South China Sea: Beijing
- France begins frenetic campaign after Macron poll gamble
- Wu makes Australian diving history with fifth Olympics
- Illegal gold mining eats into Peruvian Amazon
- Shareholders OK with soaring executive pay in US
- On thin ice: Greenland's last Inuit polar bear hunters
- McIlroy silence speaks volumes after US Open collapse
- Walsh follows up 100m fly world record with Olympic berth
- McIlroy departs Pinehurst without talking to media after US Open collapse
- Team 'Melodi' woos India as Meloni-Modi video goes viral
- DeChambeau outlasts McIlroy to win second US Open crown
- DeChambeau edges McIlroy by one stroke to win US Open
- In hostile Boston, Mavs' Irving aims to keep focus on NBA Finals challenge
- Southgate says England will benefit from Serbia suffering
- Vu wins LPGA Meijer Classic after playoff thriller
- Nuclear arms more prominent amid geopolitical tensions: researchers
- Lucu boots Bordeaux-Begles into Top 14 semis
- England begin Euro 2024 quest with win over Serbia, Dutch edge Poland
- Bellingham sparkles as England star takes centre stage at Euros
- Bellingham gets unconvincing England off to winning Euros start
- Water crisis batters war-torn Sudan as temperatures soar
- 'Best manager' Ten Hag reveals Tuchel was approached for his United job
- DeChambeau and McIlroy share US Open lead as drama builds
- Zuma's party joins S.African opposition alliance
- Love double as Boulter and De Minaur win tennis titles on same day
- Denmark's Eriksen glad for 'very different' Euros experience
- Eriksen scores on emotional Euros return as Denmark held by Slovenia
- Rangnick optimistic as he leads Austria into Euros in home country
- French Open champion Alcaraz eager to take clay form into grass season
- Babar delivers captain's knock as Pakistan bow out with win over Ireland
- US Open leader DeChambeau tees off in last round at Pinehurst
- Belgium coach Tedesco 'sure' De Bruyne ready for Euros
- Eriksen scores on emotional Euro return as Denmark held by Slovenia
- 'Inside Out 2' posts smashing debut at N.American box office
- Andy Murray uncertain if he'll play in fifth Olympics
- France braces for frenetic campaign as Mbappe warns against extremes
- German police shoot man wielding weapons ahead of Euros match
- Afghan Taliban govt says to attend next round of UN talks in Doha
US stocks stabilize after choppy trading week ahead of long weekend
Wall Street swung higher Friday ahead of the long Memorial Day weekend, marking a positive end to a choppy week of trading that saw the Nasdaq set a fresh record even as concerns the US Federal Reserve could keep interest rates higher for longer weighed on markets.
US stocks regained lost ground Friday to trade higher amid renewed enthusiasm for generative AI-linked companies like Nvidia, which closed up 2.6 percent.
"We know that expectations were very high, and yet they seem to meet or exceed them on more than one level," Tom Cahill from Ventura Wealth Management told AFP.
"So whether we like it or not, artificial intelligence now is an important factor when it comes to the stock market sentiment," he added.
The tech-heavy Nasdaq Composite Index finished the day up 1.1 percent, while the broad-based S&P 500 rose 0.7 percent. The Dow Jones Industrial Average stabilized after tumbling 1.5 percent on Thursday to close almost unchanged.
The gains in New York helped European markets recover to close the day flat or with narrow losses.
- Nvidia fuels Nasdaq's rise -
European and US indices have rallied to new records recently thanks to solid first quarter earnings by companies and their positive outlook despite ongoing fears that bumpy inflation will keep the Fed on hold for the rest of the year.
While Nvidia's recent blockbuster earning helped propel the Nasdaq Composite to new highs this week, other markets have been hobbled by concerns that the market is now overbought.
"With earnings season largely behind us, we will now see markets following the economic data more closely, and unfortunately we look set for a protracted period of high rates if recent inflation data is anything to go by," said Scope Markets analyst Joshua Mahony.
Other data showing the US economy is coping with high interest rates -- and reducing any pressure on the Fed to cut them -- has also been denting confidence that cuts are on the way.
Minutes from the Fed's May policy decision published this week showed decision-makers wanted to keep borrowing costs elevated until they are confident prices are under control, while some even said they would be willing to hike again if needed.
Across the Atlantic Ocean, London was hit by data showing a 2.3-percent April slump in UK retail sales, days after hotter-than-expected inflation doused chances of a Bank of England rate-reduction any time soon.
- Key figures around 2030 GMT -
New York - Dow: FLAT at 0.0 percent at 39,069.59 points (close)
New York - S&P 500: UP 0.7 percent at 5,304.72 (close)
New York - Nasdaq Composite: UP 1.1 percent at 16,920.79 (close)
London - FTSE 100: DOWN 0.3 percent at 8,317.59 (close)
Paris - CAC 40: DOWN 0.1 percent at 8,094.97 (close)
Frankfurt - DAX: FLAT at 18,693.37 (close)
EURO STOXX 50: FLAT at 5,035.41 (close)
Tokyo - Nikkei 225: DOWN 1.2 percent at 38,646.11 (close)
Hong Kong - Hang Seng Index: DOWN 1.4 percent at 18,608.94 (close)
Shanghai - Composite: DOWN 0.9 percent at 3,088.87 (close)
Euro/dollar: UP at $1.0851 from $1.0815 on Thursday
Dollar/yen: UNCHANGED at 156.93 yen
Pound/dollar: UP at $1.2735 from $1.2696
Euro/pound: UP at 85.17 from 85.16 pence
West Texas Intermediate: UP 1.1 percent at $77.72 per barrel
Brent North Sea Crude: UP 0.9 percent at $82.92 per barrel
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K.Thomson--BTB